STPD - Product Control - Vice President

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SMBC: A trusted partner for the long term

Here at SMBC Group, we want to help you find the next step in your career so read on to discover if this opportunity is the one for you. We like to recognise potential in our people, so we welcome your application even when your experience doesn’t perfectly align with the job description. Whilst we’ll always strive to be better, we’re proud of our inclusive culture, and encourage our applicants and colleagues to be their authentic, unique selves.

United by a sense of purpose towards our customers – to be a trusted partner for the long-term – and our universal banking platform in EMEA, SMBC Group has an international growth agenda and award-winning products, meaning we provide exciting opportunities to work on a diverse range of projects and initiatives. We deliver a full suite of corporate finance products and solutions to our customers as well as investment banking and advisory services, and a range of innovative solutions in global capital markets.

Read on to find out how you could enhance your skills and gain valuable experience, by joining us to support our clients transition to a sustainable future.

This role sits within the Product Control team and is responsible for the independent valuation oversight and control of trading balance sheet. Whilst the role primarily covers valuation, it will also require supporting P&L reporting processes.

The role acts as a key partner to Front Office, Risk and Quantitative teams, providing challenge and insight on valuations, P&L drivers, market data, valuation adjustments and fair value reporting. Strong product knowledge and a solid understanding of derivatives & cash products valuation methodologies, including XVA (CVA, DVA, FVA, MVA), are essential.

The role combines daily control responsibilities with broader ownership of valuation governance, IPV, balance sheet substantiation, process improvements and strategic change initiatives.

The anticipated salary range for this role is £80,000 - £120,000, with the final offer determined based on the candidate’s skills, experience, role scope, location, and relevant market factors. In addition to base salary, the role may be eligible for a discretionary incentive award and a competitive benefits package, including core benefits such as pension provision.

This specific role supports the control of derivative trading activities under the Macro Rates Business/Risk Solutions Group/DP Ltd (Sales & trading – Global Markets).

Finance - Product Control

• Ownership of valuation control and fair value reporting for trading balance sheet.
• Perform and oversee Independent Price Verification (IPV) processes.
• Review and challenge Front Office valuations, market data and valuation methodologies.
• Investigate and resolve valuation differences and IPV exceptions.
• Review and calculate valuation adjustments including:
• CVA
• DVA
• FVA
• MVA
• Prudent Valuation Adjustments (PVA)
• Assess valuation impacts arising from new products, model changes and market developments.
• Support valuation governance and valuation reserve frameworks.
• On going maintenance of related policies and procedures.
• Provide analysis and challenge of valuation assumptions and model outputs.
• Producing metrics and KRIs for stakeholder and contribution to the monthly valuation packs.

• Supporting of daily P&L reporting and analysis/ attribution.
• Partner with P&L controller to investigate and resolve P&L queries when required
• Ensure accurate accounting and classification of P&L and Balance Sheet balances.
• Support monthly, quarterly and year-end financial close activities.
• Support…